Nifty downtrend to continue or bulls to stage a comeback- 7 things to know before share market opens
时间:2024-06-26 09:47:35 阅读(143)
Indian benchmark indices are likely to open lower amid weak global cues, hinted SGX Nifty as Nifty futures traded 63 pts lower at 18,746 level on the Singapore Exchange. In the previous session, the BSE Sensex fell 34 points to 62,835, while the NSE Nifty 50 gained 5 pts to settle at 18,701. “We expect the market to consolidate for the next few days given the RBI policy on Wednesday and Gujarat election outcome on Thursday. Today, we might see some reaction based on Gujarat exit poll data,” said Siddhartha Khemka, Head – Retail Research, Motilal Oswal Financial Services.
Key things to know before share market opening bell
Also Read: HDFC, TVS Motor Co, Natco Pharma, Bajaj Consumer Care, BCL Industries, DreamFolks, Go Fashion stocks in focus
Nifty technical view: A small negative candle was formed on the daily chart with a long lower shadow. “Technically, this market action signals a formation of a bullish hammer-type candle pattern. Normally, such candle pattern after a reasonable decline calls for caution for short positions and more often results in upside bounces from the lows. Nifty sustained on a immediate support of 10-day EMA and also a trend line support as per the concept of change in polarity as per daily chart. The minor downward correction in Nifty is about complete and the market is set to show upside bounce from the lows in the short term,” said Nagaraj Shetti, Technical Research Analyst, HDFC Securities.
Levels to watch for: “According to the volume profile, 18650 may act as robust support while on the upside, 18850 may act as an immediate hurdle. On the other hand, Bank nifty has support at 42900 levels while resistance is placed at 43500. We would advise being cautious and frequently booking profit,” said Ameya Ranadive, Equity Research Analyst, Choice Broking.
Call, Put OI data: OI data indicates, on the call side the highest OI was witnessed at 18800 followed by 19000 strike price while on the put side, the highest OI was witnessed at 18600 strike price. Nifty Put Call Ratio stands at 0.90. Bank Nifty OI data indicates, on the call side the highest OI was witnessed at 43500 while on the put side, the highest OI was witnessed at 43000 strike price.
FII and DII data: Foreign institutional investors (FIIs) net offloaded shares worth Rs 1,139.07 crore, while domestic institutional investors (DIIs) net purchased shares worth Rs 2,607.98 crore on 5 December, according to the provisional data available on the NSE.
Stocks under F&O ban on NSE: The National Stock Exchange has GNFC, Delta Corp and Indiabulls Housing Finance under its F&O ban list for 6 December. Securities thus banned under the F&O segment include companies where derivative contracts have crossed 95% of the market-wide position limit.
Also Read: Share Market LIVE: Nifty, Sensex stare at negative start amid weak global markets; RBI MPC meet eyed for cues
Oil falls: Crude oil prices fell over 3% on Monday, following US stock markets lower, after US service sector data raised worries that the Federal Reserve could continue its aggressive policy tightening path. Brent crude futures settled down $2.89, or 3.4%%, at $82.68 a barrel. West Texas Intermediate crude (WTI) fell $3.05, or 3.8%, to $76.93 a barrel.
上一篇:IPO street set for another busy week; 4 public issues set to launch to raise Rs 5,000 crore
下一篇:Zomato share price rallies 13%, tops Rs 50 as Q1 net loss halves; should you buy, sell or hold-
猜你喜欢
- 52-week high, 52-week low- HAL, M&M among 63 stocks to hit 52-week high on BSE, 31 scrips at fresh lows
- 2023 saw accelerated “formalisation;” MSMEs biggest beneficiaries
- Buy on decline strategy recommended, Nifty resistance at 16400; these trades can help pocket returns
- Buy these two stocks for near-term gains, charts show strength; Nifty needs to hold above 17550, buy on dips
- 63,248 people lost jobs in MSME sector so far post Covid - In Pictures
- IRCTC shares tank 5% as government announces stake sale via OFS
- Adani group stocks settle up to 20 per cent higher; market valuation inches closer to Rs 14 lakh crore
- AAP claims Arvind Kejriwal to be arrested today, security tightened around ED headquarters
- Buy these two stocks for near term gains as Nifty gears up to claim fresh all-time highs